Ecuador threatens to nationalize oil companies

Written by T. Rob Brown (aka Roberto Chocolate) Saturday, 15 May 2010 13:48
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The Ecuadorian President is serious about nationalizing oil companies in Ecuador - a move that is scaring off foreign investors.

This notice is from the Southern Pulse newsletter:

ECUADOR

Ecuador announced that negotiations with oil companies to amend service delivery contracts will last between 6-9 months. If no agreement is reached after 9 months the government will expropriate the company’s facilities and request they leave the country.

 

 

Last Updated on Saturday, 15 May 2010 13:51